This paper aimed at examining the Iranian EFL teachers and learners’ preferences for two types of direct oral corrective feedback, including explicit correction and metalinguistic clues, and two types of indirect oral corrective feedback, including recast and repetition. The participants included 39 teachers and 84 EFL learners, selected through purposive sampling. A scenario-based questionnaire was constructed based on Lyster and Ranta’s (1997) typology of corrective feedback (CF) for the purpose of collecting data on the teachers and learners’ preferences for the type of CF. Feedback scenarios were extracted from the literature on CF. The questionnaire was distributed to the participants by one of the researchers. Semi-structured interviews were also conducted in order to triangulate the data gathered through the questionnaire. The results of the study indicated that the EFL teachers and learners preferred direct CF more than indirect CF. The results also revealed significant differences among EFL teachers with differing levels of teaching experience (i.e., low, moderate and high). The present study drew attention to the fact that direct types of CF were preferred over others in EFL context. This study has implications for EFL teachers, learners, and material developers.